Google May Cut Deeper at Motorola
That's up from "no greater than $275 million," the target Google presented in August. The original plan was to cut Motorola Mobilty's workforce by 20 percent -- 4,000 jobs -- and shut down one-third of its 90-plus facilities worldwide. Most of those job cuts were centered on Moto's cellphone business, with a supposedly minimal impact on Motorola Home, the unit that makes set-tops, cable modems and broadband access gear. (See Google Job Cuts to Nick Moto's Cable Unit and Motorola's Home Unit Hires New Leader .)
But it seems that Google's not done slashing.
"Motorola continues to evaluate its plans and further restructuring actions may occur, which may cause Google to incur additional restructuring charges, some of which may be significant," Google said in an filing Thursday with the Securities and Exchange Commission (SEC) .
Meanwhile, Google is rumored to be sprucing up Motorola Home for a sale that could fetch about $2 billion. Industry sources say Google has hired Barclays Capital to help vet the process, and multiple insiders have identified Arris Group Inc. (Nasdaq: ARRS), Pace plc and Ericsson AB (Nasdaq: ERIC) as possible suitors. (See Google Taps Barclays to Shop Motorola Home , Google Preps Sale of Motorola Home and Motorola's Home Unit Hires New Leader .)
— Jeff Baumgartner, Site Editor, Light Reading Cable